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December 22, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > La Crosse, Business Loans > Park Bank La Crosse Business Loans > Hotels And Motels Loan | ||||
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Wisconsin SBA 7A Lenders
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La Crosse, Wisconsin Bank Lends Money to Hotels And Motels Company in La Crosse, WisconsinGet to know La Crosse, Wisconsin banks that specialize in business loans and know how to work with entrepreneurs. Park Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in La Crosse, Wisconsin starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Park Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender PARK BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 9/24/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Determining Proper Capital Structure for a Business Best La Crosse, Wisconsin Banks for Small Business
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